{
  "ticker": {
    "uuid": "8084a11f-dbf9-4a02-aa8e-fa0726ed3f22",
    "symbol": "V1OD34",
    "name": "Vodafone Group Public Limited Company",
    "exchange": "SAO",
    "country": "BR",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^BVSP",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2a",
    "phase_label": "Stage 2A \u00b7 Early advance",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 96.0,
    "architecture_regime": "balance",
    "architecture_regime_label": "Balance",
    "architecture_modifier": "Upper balance after advance",
    "architecture_gate": "mixed",
    "architecture_direction": 40.853,
    "architecture_energy": 49.309,
    "architecture_maturity": 11.903,
    "architecture_confidence": 77.075,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "Directional pressure has compressed into balance.",
        "body": "Trend and Activity are compressed into balance, so neither side has durable control. Prior structure and the next directional change provide context; balance alone is not assumed to be a base."
      },
      "scores": {
        "balance": 45.02,
        "rotation_up": 68.69,
        "upward_expansion": 54.4,
        "deceleration": 28.66,
        "rotation_down": 19.09,
        "downward_expansion": 17.4
      },
      "activity_lines": [
        40.045334,
        38.793273,
        38.24172,
        38.234636
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.5
    },
    "latest_close": 41.080002,
    "trend_reference": 38.256949,
    "distance_from_trend": 0.073792,
    "trend_direction": "Improving",
    "fair_value": 27.319619,
    "distance_from_fair_value": 0.503681,
    "fair_value_direction": "Weakening",
    "relative_strength": 11.146965,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.046091,
    "excess_performance": 0.10314,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.073792,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.037321,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.503681,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.009007,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.11147,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.113831,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.046091,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": false,
        "value": 0.884911,
        "read": "Supply-led"
      }
    ],
    "volume": {
      "latest": 859,
      "relative_activity": 0.482016,
      "balance": 0.884911,
      "dry_up": 0.646008,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.056009,
      "annualized_volatility": 0.255412,
      "from_high_reference": -0.021672,
      "from_low_reference": 0.410406
    },
    "levels": {
      "trend_reference": 38.256949,
      "fair_value_reference": 27.319619,
      "structural_low": 33.240002,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 18,
        "median_return": -0.012825,
        "positive_rate": 0.388889,
        "directional_follow_through": 0.388889,
        "median_excess_return": -0.034454,
        "regime_survival": 0.611111,
        "best_return": 0.15,
        "worst_return": -0.196356,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 8,
        "median_return": -0.067675,
        "positive_rate": 0.375,
        "directional_follow_through": 0.375,
        "median_excess_return": -0.07601,
        "regime_survival": 0.375,
        "best_return": 0.21279,
        "worst_return": -0.197646,
        "sufficient": true
      },
      {
        "horizon": "Extended",
        "sample_count": 6,
        "median_return": 0.040965,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.054073,
        "regime_survival": 0.333333,
        "best_return": 0.361435,
        "worst_return": -0.260234,
        "sufficient": true
      },
      {
        "horizon": "Full cycle",
        "sample_count": 3,
        "median_return": 0.247321,
        "positive_rate": 0.666667,
        "directional_follow_through": 0.666667,
        "median_excess_return": 0.117537,
        "regime_survival": 0.0,
        "best_return": 0.361914,
        "worst_return": -0.330912,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2023-05-26",
        "end": "2023-09-15",
        "tenure": "Established",
        "return": 0.046424,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2023-09-22",
        "end": "2024-05-17",
        "tenure": "Extended",
        "return": 0.067312,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-05-24",
        "end": "2024-10-11",
        "tenure": "Established",
        "return": 0.183509,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2024-10-18",
        "end": "2024-11-01",
        "tenure": "New",
        "return": -0.007576,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2024-11-08",
        "end": "2024-11-15",
        "tenure": "New",
        "return": -0.05765,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2024-11-22",
        "end": "2025-01-31",
        "tenure": "Developing",
        "return": -0.017282,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-02-07",
        "end": "2025-03-14",
        "tenure": "Developing",
        "return": 0.101763,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-03-21",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.086022,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-18",
        "end": "2025-05-23",
        "tenure": "Developing",
        "return": 0.097633,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-30",
        "end": "2025-09-26",
        "tenure": "Established",
        "return": 0.059537,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-03",
        "end": "2025-10-31",
        "tenure": "Developing",
        "return": 0.07405,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2026-03-20",
        "tenure": "Established",
        "return": 0.262186,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-03-27",
        "end": "2026-07-17",
        "tenure": "Established",
        "return": 0.04864,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.062048,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
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        "energy": 16.985209,
        "activity_lines": [
          38.169047,
          38.243186,
          38.291735,
          37.366694
        ]
      },
      {
        "date": "2026-05-01",
        "close": 38.685776,
        "volume": 394,
        "typical_volume": 1549.15,
        "trend": 36.041676,
        "fair_value": 25.645915,
        "relative_strength": -2.402497,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 37.294992,
        "energy": 20.518129,
        "activity_lines": [
          38.324446,
          38.276093,
          38.377914,
          37.556743
        ]
      },
      {
        "date": "2026-05-08",
        "close": 38.960697,
        "volume": 843,
        "typical_volume": 1456.7,
        "trend": 36.325401,
        "fair_value": 25.755935,
        "relative_strength": -0.236128,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.539299,
        "energy": 23.482605,
        "activity_lines": [
          38.541766,
          38.393062,
          38.468344,
          37.745067
        ]
      },
      {
        "date": "2026-05-15",
        "close": 36.447105,
        "volume": 15207,
        "typical_volume": 2190.45,
        "trend": 36.514563,
        "fair_value": 25.85778,
        "relative_strength": -3.272823,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 3.418674,
        "energy": 3.805305,
        "activity_lines": [
          37.884566,
          38.059546,
          38.303761,
          37.752919
        ]
      },
      {
        "date": "2026-05-22",
        "close": 36.79076,
        "volume": 7495,
        "typical_volume": 2466.35,
        "trend": 36.707015,
        "fair_value": 25.969409,
        "relative_strength": -1.792087,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 4.336757,
        "energy": 8.366712,
        "activity_lines": [
          37.472834,
          37.818203,
          38.170636,
          37.770738
        ]
      },
      {
        "date": "2026-05-29",
        "close": 37.036228,
        "volume": 351,
        "typical_volume": 2162.55,
        "trend": 36.880545,
        "fair_value": 26.085615,
        "relative_strength": 0.169926,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 5.660128,
        "energy": 14.93961,
        "activity_lines": [
          37.219511,
          37.644204,
          38.057504,
          37.791978
        ]
      },
      {
        "date": "2026-06-05",
        "close": 38.060001,
        "volume": 400,
        "typical_volume": 2104.65,
        "trend": 37.146982,
        "fair_value": 26.207115,
        "relative_strength": 5.588975,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 9.590075,
        "energy": 15.838671,
        "activity_lines": [
          37.37814,
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          38.039226,
          37.868071
        ]
      },
      {
        "date": "2026-06-12",
        "close": 39.279999,
        "volume": 561,
        "typical_volume": 2086.45,
        "trend": 37.380282,
        "fair_value": 26.336757,
        "relative_strength": 7.323605,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 41.148812,
        "energy": 15.691495,
        "activity_lines": [
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          38.129424,
          38.005685
        ]
      },
      {
        "date": "2026-06-19",
        "close": 37.099998,
        "volume": 4,
        "typical_volume": 1888.0,
        "trend": 37.512282,
        "fair_value": 26.456282,
        "relative_strength": 2.733091,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 14.440305,
        "energy": 7.766609,
        "activity_lines": [
          37.844214,
          37.768484,
          38.00324,
          37.987603
        ]
      },
      {
        "date": "2026-06-26",
        "close": 36.119999,
        "volume": 29,
        "typical_volume": 1812.35,
        "trend": 37.603282,
        "fair_value": 26.566472,
        "relative_strength": -2.712886,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "mixed",
        "direction": -31.160506,
        "energy": 14.614158,
        "activity_lines": [
          37.333081,
          37.455815,
          37.789533,
          37.897778
        ]
      },
      {
        "date": "2026-07-03",
        "close": 34.290001,
        "volume": 7,
        "typical_volume": 1745.25,
        "trend": 37.612949,
        "fair_value": 26.666752,
        "relative_strength": -8.092813,
        "stage": 4,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "mixed",
        "direction": -45.634983,
        "energy": 46.471982,
        "activity_lines": [
          36.256666,
          36.843503,
          37.416541,
          37.684018
        ]
      },
      {
        "date": "2026-07-10",
        "close": 37.599998,
        "volume": 1296,
        "typical_volume": 1789.6,
        "trend": 37.730282,
        "fair_value": 26.784661,
        "relative_strength": -1.223538,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "down",
        "direction": -49.64166,
        "energy": 49.132771,
        "activity_lines": [
          36.466666,
          36.902219,
          37.388833,
          37.683182
        ]
      },
      {
        "date": "2026-07-17",
        "close": 40.099998,
        "volume": 2535,
        "typical_volume": 1873.2,
        "trend": 37.877616,
        "fair_value": 26.919988,
        "relative_strength": 7.805139,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "down",
        "direction": -12.20208,
        "energy": 11.519998,
        "activity_lines": [
          37.540665,
          37.435223,
          37.613317,
          37.836067
        ]
      },
      {
        "date": "2026-07-24",
        "close": 38.68,
        "volume": 645,
        "typical_volume": 1763.5,
        "trend": 37.960949,
        "fair_value": 27.044016,
        "relative_strength": 3.901858,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": -2.067493,
        "energy": 5.132344,
        "activity_lines": [
          38.086666,
          37.68933,
          37.698848,
          37.887834
        ]
      },
      {
        "date": "2026-07-31",
        "close": 40.360001,
        "volume": 566,
        "typical_volume": 1746.8,
        "trend": 38.103616,
        "fair_value": 27.179349,
        "relative_strength": 5.979779,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 26.693218,
        "energy": 28.950572,
        "activity_lines": [
          39.087333,
          38.208295,
          37.941522,
          38.042611
        ]
      },
      {
        "date": "2026-08-07",
        "close": 41.080002,
        "volume": 859,
        "typical_volume": 1782.1,
        "trend": 38.256949,
        "fair_value": 27.319619,
        "relative_strength": 11.146965,
        "stage": 2,
        "regime": "balance",
        "modifier": "Upper balance after advance",
        "gate": "mixed",
        "direction": 40.852973,
        "energy": 49.309342,
        "activity_lines": [
          40.045334,
          38.793273,
          38.24172,
          38.234636
        ]
      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}